Ceva Reports Quarterly Loss Despite Revenue Beat
ROCKVILLE, Md. (AP) - Ceva Inc. (CEVA) reported a fourth-quarter loss of $1.7 million on Thursday, reversing a profit in the same period a year earlier. Adjusted for non-recurring expenses, earnings per share met Wall Street expectations at 11 cents.
Revenue for the quarter surpassed analysts' estimates, reaching $29.2 million. Zacks Investment Research had projected $27.5 million.
For the full year, Ceva narrowed its loss to $8.8 million, or 37 cents per share, on revenue of $106.9 million.
Since the start of the year, Ceva shares have gained 0.5%. Over the past 12 months, the stock has surged 45%.